NSE noted that applicable rate of margin shall be 50 percent or existing margin, whichever is higher, subject to maximum rate of margin capped at 100 percent w.e.f. February 6, 2023 on all open positions as on February 3
Adani group’s stocks have nosedived after the Hindenburg report’s release
Amid massive stock rout for almost a week in most of Adani group stocks, the National Stock Exchange (NSE) has put Adani Enterprises, Adani Ports and Ambuja Cements under additional surveillance measure (ASM) framework effective February 3, 2023 to curb short-selling.
NSE, in its circular released on February 2, noted that applicable rate of margin shall be 50 percent or existing margin, whichever is higher, subject to maximum rate of margin capped at 100 percent w.e.f. February 6, 2023 on all open positions as on February 3 and new positions created from February 6.
The ASM list is a list of securities that get monitored due to factors like price fluctuation, volatility, volume variance, etc. Stocks that are shortlisted for inclusion on the ASM list serve as a warning to investors about unusual price movement. There are certain trading restrictions on these stocks to put an end to any potential conjecture.
Further, the stock exchange also stated that the shortlisting of securities under ASM is purely on account of market surveillance, and it should not be construed as an adverse action against the concerned company / entity.
